CITIC Offshore Helicopter Co.,Ltd. (SZSE:000099) intends to acquire 51% stake in Huaxia Jiuzhou General Aviation Co., Ltd. from Jiangxi Changyun Co., Ltd. (SHSE:600561) and Nanchang Gaohang Investment Co., Ltd. for approximately CNY 100 million on March 24, 2021. The final consideration is subject to signing of agreement. CITIC Offshore Helicopter Co.,Ltd. will acquire 36% and 15% stake from Jiangxi Changyun Co., Ltd. and Nanchang Gaohang Investment Co., Ltd. respectively.

On March 31, 2021, Citic Offshore Helicopter Co., Ltd. signed the property rights transaction contract with Jiangxi Changyun Co., Ltd. to acquire 36% stake for CNY 72.9 million. Citic Offshore Helicopter Co., Ltd. shall pay one time payment to the designated settlement account of Jiangxi Assets and Equity Exchange within 5 working days after the effectivity of the contract of which CNY 14.1 million has already been paid. As of June 30, 2020, Huaxia Jiuzhou General Aviation Co., Ltd. has reported total assets of CNY 210.75 million and net assets of CNY 202.23 million.

The Board of Directors of CITIC Offshore Helicopter Co.,Ltd. has approved the transaction. The transaction doesn't need to get approval from shareholders of CITIC Offshore Helicopter Co.,Ltd.